Menu
The credit of Cement, angles, channels CTD and TMT bars will be eligible for Cenvat credit is one of the issue in this direction. Although the amendment from this budget has tried to put an end to this controversy yet the old cases are pending. Hence, it is still important.
(1) Any amount of credit earned by a manufacturer under the CENVAT Credit Rules, 2002, as they existed prior to the 10th day of September, 2004 or by a provider of output service under the Service Tax Credit Rules, 2002, as they existed prior to the 10th day of September, 2004, and remaining unutilized on that day shall be allowed as CENVAT credit to such manufacturer or provider of output ...
2016-12-21· Cenvat Credit Rules with Latest Amendments. Cenvat Credit means a scheme where the manufacturers or the output service providers are allowed a set-off of the taxes paid on the inputs or the input services that are used while manufacturing the final products or providing the output service.
Tips for getting CENVAT on Steel and Cement. By R K Agarwal. CENVAT on goods attracting central excise and eligible for CENVAT, is becoming difficult as far as Steel and Cement are concerned.
The CENVAT credit may be utilized for payment of – (a) any duty of excise on any final product (b) an amount equal to CENVAT credit taken on inputs if such inputs are removed as such or after being partially processed (c) an amount equal to the CENVAT credit taken on capital goods if such capital goods are removed as such (d) an amount under sub-rule (2) of rule 16 of Central Excise Rules ...
CENVAT Credit - Whether Cement, used as construction/building material in the mines is eligible as input for the purpose of availment of Cenvat Credit - held no - HC
the Finance Act, 1994 (32 of 1994) and in supersession of the CENVAT Credit Rules, 2002 and the Service Tax Credit Rules, 2002, except as respects things done or omitted to be done before such supersession, the Central
Do we need to reverse the Cenvat Credit in terms of Rule 6(3)(i) of Cenvat Credit Rules 2004 read with Explanation I to Rule 6 of the said Rules, as trading activity is an exempted service in terms of Section 66D of Finance Act 1994, and we are not maintaining separate accounts for the exempted and non-exempted services?
We are a cement manufacturing entity and we require refractory materials for use in our manufacturing process. We avail of Cenvat credit on such refractory materials as per the provisions of the Cenvat Credit Rules, 2004.
CENVAT credit availability on Cement and Steel were under litigation at large due to no specific disallowance mentioned in law. w.e.f. 07-Jul-09 Explanation added to the definition of Input, which specifically disallows, Steel, Cement etc.
CENVAT Credit - Whether Cement, used as construction/building material in the mines is eligible as input for the purpose of availment of Cenvat Credit - held no - HC
Cenvat credit of the duty paid on cement as capital goods cement used for installation and erection or plant and machinery appellants are eligible for credit of ...
The same is in supersession of CENVAT Credit Rules, 2002 (CCR 02) and Service Tax Credit Rules, 2002 (STCR). CCR 04 applies to the whole of India. However, it would not apply, to the extent it relates to availment and utilisation of credit to the State of Jammu & Kashmir.
While hearing the case of Ultra Tech Cement Ltd, the Supreme Court held that cenvat credit on Goods Transport Agency- GTA service, availed for transport of goods from the place of removal to buyer's premises is not admissible from 01.04.2008.
No credit of duty paid on any inputs used for such non-excisable goods is admissible in view of the provisions of Rule 6(1) of Cenvat Credit Rules, 2002/2004. Therefore, he allowed the departmental, appeal and confirmed the demand for reversal of wrongly availed capital goods credit.
CENVAT Credit-Rule 3(5(A)) • If Capital goods are removed from the factory than CENVAT credit is t be revered as follows: • (a) for computers and computer peripherals :
cenvat credit rules for cement company CENVAT Hindustan Zinc Ltd. 2008 (225) EL T 183 (Raj) where it was held that cement, being a building material used for the purpose of building construction, cannot be said to be an input used for manufacturing of final product and hence, no CENVAT Credit is available so far the cement is concerned.
Ultratech Cement Ltd. [2010] 29 STT 244 (paras 31 and 34), the ratio laid down by the Apex Court in the case of Maruti Suzuki Ltd. (supra) in context of definition of input in Rule 2(k) of Cenvat Credit Rules, 2004 would equally apply while interpreting expression "activities to business" in Rule 2(l) and that in the light of the Apex court's judgment in the case of Maruti Suzuki Ltd ...
CENVAT Credit Rules, 2004 contains 16 Rules wherein both manufacturers and service providers are allowed to take input credit on goods and services apart from capital goods.
As per Rule 2 (a) of the Cenvat Credit Rules, 2004 refractory materials used in the factory of the manufacturer of final products qualify as capital goods. Rule 3(5A) of the credit rules which ...
Cenvat Credit Provisions / Rules Amendments, Issues & Case Studies The provisions laid down in the Cenvat Credit Rules play an important role in reducing the cascading effect of indirect taxes and thus are of vital importance for every business, whether involved in manufacturing, trading or providing various services. The crucial benefits offered by the Rule, could be availed only when it is ...
•Rule 6 (4) of CENVAT Credit Rules, 2004 •The condition of receipt of goods still continues [Section 16(2)] •The concept of bifurcation of goods credit into Inputs and Capital goods continues
The CENVAT Credit Rules, 2004 was introduced to let both manufacturers and service providers to take input credit on goods and services apart from capital goods. earlier to the introduction of CENVAT, credit for VAT was provided under the MODVAT regimen and with the prologue of Service Tax Credit Rules, 2002 credit was provided for service tax paid by service providers. The CENVAT Credit Rules ...
2010-11-08· On scrutiny of the CENVAT register, it was noticed by the Excise Authorities that, during the period 2004-08, the assessee had availed credit of service tax paid on outdoor catering services under the provisions of Cenvat Credit Rules, 2004 (In short, "the 2004 Rules") & utilized the same in paying excise duty, that is, central value added tax on clearance of cement manufactured by the assessee.
• CENVAT credit of duty paid on goods such as cement, steel etc. used for construction of building or civil structure or laying of foundation or making structures for .
Tips for getting CENVAT on Steel and Cement. By R K Agarwal. CENVAT on goods attracting central excise and eligible for CENVAT, is becoming difficult as far as Steel and Cement are concerned.
Read more about 'Cenvat credit on inputs used for manufacture of exempted goods is selectively available' on Business Standard. We would like to know the process for claim of rebate on excise duty paid for export in case of loss of original ARE form received from Customs.
CENVAT credit can be availed on cement used in mine for grouting after extraction of ore . February 8, 2019 [2019] 101 taxmann 373 (New Delhi - CESTAT) 134 Views. GST/Excise/ST/VAT : Where assessee was engaged in manufacture of Lead and Zinc concentrates and Adjudicating Authority held that cement used in mine for filling pits after extraction of ore could not be treated input as there was ...
Ultratech Cement Lt. Cenvat Credit on GTA service for transport of goods to buyer's premises . Brief Facts of the Case: The respondent assessee was a Limited Company involved in packing and clearing/forwarding of goods. The assessee was also availing the benefit of Cenvat Credit facility under the Cenvat Credit Rules, 2004 ('Rules, 2004'). As per the practice followed, the assessee used ...
AMENDMENTS TO CENVAT CREDIT RULES, 2004, BY FINANCE ACT, 2011: A CRITICAL STUDY ... "Activities relating to business", used in the definition of the term "input service", in Rule 2(l) of the CENVAT Credit Rules. It was a general understanding that Department was wrongly interpreting this term to disallow genuine CENVAT credit taken by the Assessees in case of such services which were ...
